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Marijuana sales in Colorado continued at a record pace in October, according to the Treasury Department, up 25 percent from the same month last year in 2019.
According to DOR data, pharmacies across the state had sales of nearly $ 199.8 million in October. That number is slightly lower than the $ 206.5 million worth of marijuana sold in September, but October pot transactions rose sharply year over year, which has become a fertile streak for commercial pots. According to DOR, this year’s marijuana sales of just under $ 1.75 billion through October are $ 81.6 million after breaking the record for annual pot sales in Colorado in 2019. And there are still two months left.
From the beginning of the year through October, Colorado generated just over $ 318 million in tax revenue from marijuana sales, DOR data shows.
Marijuana users spent more money in pot stores during the pandemic, according to state sales and tax revenues in Colorado, Oklahoma, Illinois, and other states with legalized marijuana. In Colorado, pharmacies reported sales of over $ 1.4 billion since March when the state and local governments began issuing public health orders in connection with the COVID-19 pandemic.
Colder months traditionally bring less demand for marijuana in Colorado, where sales traditionally peak in August and decline in spring. While 2020 will adjust to that curve, the lows this year are still much higher than any previous run.
Commercial marijuana analysis companies reported significant short-term increases in pharmacy sales last month in the days following the November 3 election. The marijuana industry also reported a huge drop in sales on Green Wednesday, Legal Pot’s new version of Black Friday, held the day before Thanksgiving.
Colorado marijuana sales in 2020.
Colorado Department of the Treasury
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Thomas Mitchell has been writing about everything cannabis-related for Westword since 2014, covering sports, real estate, and general news en route to publications like the Republic of Arizona, Inman, and Fox Sports. He is currently the cannabis editor for westword.com.